Personally... ratings don't effect me. However, my father refuses to watch R-rated films. This was always such a shame because there were so many I knew he would love. So back i nthe day when LDS Entertainment and Cleanflix were around, I would go in periodically and rent edited movies for him to watch. It was great, he found a lot of movies he enjoyed... unfortunately when word came down from the judge that they had to stop... my dad had to stop... but I wouldn't go without one movie... so I ran over and purchased an edited copy of The Last Samurai and gave it to my father, as it had become one of his favorite films (as it was one of mine and I had suggested he watch it edited)... so yeah.
At any rate... basically, I'm all for them, even though I watch R rated films on a regular basis.